Argosy Real Estate Partners Acquires Opportunity Zone Site for Multifamily Development in Colorado Springs, CO
We are pleased to announce that Argosy Real Estate Partners, in partnership with Formativ, has acquired the first of two fully-entitled parcels for the ground-up development of The Hunter, a 214-unit multifamily community located in the New South End (“NSE”) neighborhood of Colorado Springs, CO. The second parcel is under contract to be acquired in early Q3 2022, when construction of the project is scheduled to begin. The NSE neighborhood is home to a variety of newly-developed creative office, multifamily and mixed-use projects in addition to eateries, breweries and nightlife venues. Colorado Springs is Colorado’s largest city by land mass and second largest in population, according to the U.S. Census Bureau.
The development will consist of a 214-unit, six-story building. The project will include a mix of studio, one-bedroom, and two-bedroom units. Amenities will include a fitness center, yoga studio, lounge, private conference rooms, dog wash, bicycle storage space, and a pool. The units will feature granite countertops, stainless steel appliances and undermount sinks, tile backsplashes, washer and dryer, LVT flooring, and designer pendant lighting.
The project will be developed in partnership with Formativ, a Denver-based full-service real estate development and investment firm specializing in mixed-use and commercial projects. Founded by Sean Campbell and Josh Marinos in 2016, Formativ currently has six projects totaling more than three million square feet under development.